How is Orbo Ai Doing After Shark Tank India?

Founders/Owners: Abhit Sinha, Manoj Shinde and Danish Jamil
Business: Beauty
Ask: ₹1 Crores for 0.75% Equity
Valuation/ Networth: ₹133.33 Crores
Funding: ₹1 Crores for 1% Equity(Conditional Offer)
Sharks: Vineeta Singh
Episode: Season 3 Episode 20

Orbo Ai Shark Tank India Pitch:

Orbo AI is an AI software that provides personalized answers for makeup-related questions and creates customized looks for users for different occasions. It operates with 9 layers in its software, which will generate a look based on user commands and provide the necessary information to achieve that look. Additionally, Orbo AI offers 5 modules in its do-it-yourself kit, which include virtual makeup try-on, deep skin analysis, hairstyle try-on, hair color try-on, and foundation shade finder. These modules are currently available in the market.

ORBO AI Financials & Revenue during Shark Tank India:

In 2020, ORBO conducted a Pre-Series A round and raised ₹11 crores at a valuation of ₹55 crores. In 2022, they raised ₹6 crores at a valuation of ₹93 crores. They have ₹18 lakhs in sales with a burn rate of ₹48 lakhs per month, providing them with 8 months of runway. The price of the BeautyGPT mirror will be ₹30,000. Company have already received orders for 800 mirrors from different companies.

Who are the founders of ORBO AI?

Orbo AI is founded by Abhit Sinha, Manoj Shinde and Danish Jamil. Manoj holds a 33% equity stake, Abhit holds a 5% equity stake, and Danish also holds a 5% equity stake. Manoj worked for Adidas for 12 years in the USA as a Global Business Transformation executive. After that, he worked with Reliance India as the Head of E-commerce and also founded a startup called Branfee.

Abhit and Danish completed their degrees in AI at Delhi Technological University, Delhi.

ORBO AI Shark Tank India Negotiations & Funding:

Anupam was the first shark to choose to opt out of negotiations. He mentioned that they lack both front-end and back-end infrastructure and are selling through cosmetics companies, which will affect profit and sales. Additionally, they have very little time left before running out of funds.

Aman also decided to sideline himself from negotiations. He cited three reasons: the excessive use of buzzwords, despite having raised 26 crores, sales remain at 18 lakhs per month, and he perceives there are fundamental issues with the business that he cannot understand.

Azhar agreed with Aman’s views. He explained that the company already has two products and is seeking funding to develop a third one, without understanding the advantages of this move, he chooses to exit.

Vineeta decided to take the bet and made a conditional offer of ₹1 crore for 1% equity. However, she added the condition that Orbo AI must receive a term sheet for an investment of ₹25 crores within the next three months.

On the other hand, Peyush expressed his interest in acquiring a majority stake in the company. He offered ₹15 crores for 51% equity, explaining his intention to invest capital and dilute everyone else’s stake. He mentioned that they would need to provide due diligence, as the technology and team are already set up.

The founders of Orbo AI countered Peyush’s offer with ₹35 crores for 51% equity. Peyush chose to opt out of the negotiations.

Vineeta revised her offer to ₹1 crore for 1% equity with the condition that Orbo AI must receive a term sheet for an investment of ₹12.5 crores within the next three months. The deal was finalized.